Margate tops seaside league for property price rises

The town has been regenerated in the past decade – with attractions such as the Turner Contemporary gallery and the Dreamland theme park

 

 

 

Vicky Shaw
Thursday 21 July 2016 14:51
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Margate's sandy beaches make it a popular destination when the sun shines
Margate's sandy beaches make it a popular destination when the sun shines

Margate has been named as the top hotspot for property price increases among Britain's seaside towns.

The average property in the Kent seaside town now sits at £202,276 – a 12.5% increase since July 2015, according to property website Zoopla.

The South East coast generally has seen substantial property value increases in the past year, with seven of the top 10 seaside climbers located along this shoreline.

Joining Margate in the seaside property league's top 10 list of hotspots were Walton-on-the-Naze, Felixstowe, Ramsgate, Hastings, Hayling Island, near Portsmouth and Southend-on-Sea.

Porthcawl on the south Wales coast, a popular area with surfers which is also known for hosting Elvis festivals and an annual Christmas Day swim, came fifth on the top 10 list.

The South West coastline was home to many of the weakest-performing seaside towns in terms of house prices. Two of Devon's popular holiday hotspots, Ilfracombe and Woolacombe, featured in the bottom 10 alongside Looe and Perranporth in Cornwall.

When it comes to the most expensive seaside properties, Salcombe in Devon boasts the priciest sea views with average property prices rolling in at £598,230.

Buyers looking for a cheaper seaside retreat may want to head to Scotland or Wales.

Saltcoats in Scotland offers the lowest seaside property values, with the average home worth £109,109.

Rhyl in North Wales came in sixth place on the list of seaside towns with the lowest property values. The average property in Rhyl is valued at £134,577 by Zoopla.

The Lancashire coastline may also be worth a look, with properties in Blackpool and Morecambe also on the list of the least expensive seaside properties.

Lawrence Hall, a spokesman for Zoopla, said the big increase in the value of an average home in Margate follows large amounts of regeneration funding that the town has received in the past decade – with attractions such as the Turner Contemporary gallery and the Dreamland theme park.

Mr Hall said: “If you're considering investing in a beach front property, you should consider those resorts receiving Government investment – it does have a positive impact on property values.”

Here are the top 10 seaside towns with the biggest percentage change in property values during the past year, with the annual percentage increase in house prices and the average property value there in July 2016, according to Zoopla:

1. Margate, Kent, 12.54%, £202,276

2. Grange-over-Sands, Cumbria, 10.58%, £273,965

3. Walton-on-the-Naze, Essex, 10.04%, £212,107

4. Felixstowe, Suffolk, 9.59%, £246,995

5. Porthcawl, Wales, 7.61%, £237,939

6. Llandudno, Wales, 7.56%, £196,074

7. Ramsgate, Kent, 7.17%, £208,901

8. Hastings, Sussex, 6.95%, £244,955

9. Hayling Island, Hampshire, 6.83% £314,746

10. Southend-on-Sea, Essex, 6.81%, £269,276

Here are the 10 seaside towns with the biggest percentage falls in property values over the past year, with the annual percentage change in house prices and the average property value there in July 2016, according to Zoopla:

1. Cleethorpes, Lincolnshire, minus 5.47%, £126,331

=2. Cruden Bay, Aberdeen, minus 4.63%, £162,742

=2. Collieston, Aberdeen, minus 4.63%, £227,747

4. Saltburn-by-the-sea, North Yorkshire, minus 4.33%, £140,396

5. Aberystwyth, Wales, minus 3.48%, £196,589

6. Rhyl, Wales, minus 3.37%, £134,577

=7. Ilfracombe, Devon, minus 2.21%, £219,773

=7. Woolacombe, Devon, minus 2.21%, £347,507

9. Looe, Cornwall, minus 2.19%, £258,843

10. Perranporth, Cornwall, minus 1.98%, £262,518

Here are the seaside towns with the highest property prices, according to Zoopla, with the average property value there in July 2016:

1. Salcombe, Devon, £598,230

2. Aldeburgh, Suffolk, £490,182

3. Southwold, Suffolk £434,618

4. Lyme Regis, Dorset, £402,634

5. Brighton, Sussex, £368,782

6. North Berwick, Scotland, £364,306

7. Port Isaac, Cornwall, £356,962

8. Sidmouth, Devon, £352,896

9. Woolacombe, Devon, £347,507

10. Swanage, Dorset, £330,901

And here are the seaside towns with the lowest property prices, with the average property value there in July 2016:

1. Saltcoats, Scotland, £109,109

2. Blackpool, Lancashire, £114,443

3. Blyth, Northumberland, £120,775

4. Cleethorpes, Lincolnshire, £126,331

5. Kilchattan Bay, Scotland, £130,846

6. Rhyl, Wales, £134,577

7. Morecambe, Lancashire, £136,063

8. Girvan, Scotland, £138,094

9. Saltburn-by-the-sea, Yorkshire, £140,396

10. Fairbourne, Wales, £141,576

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